---
title: Brookfield Asset Management forms Indian tower giant - Developing Telecoms
description: Data Infrastructure Trust (DIT) sealed the acquisition of American Tower-owned ATC India for INR210 billion (US$2.5 billion), making it the largest towerco in the nation, surpassing rival Indus Towers.
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date: 2024-09-13T15:53:06Z
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Data Infrastructure Trust (DIT) sealed the acquisition of American Tower-owned ATC India for INR210 billion (US$2.5 billion), making it the largest towerco in the nation, surpassing rival Indus Towers.

 DIT, the tower arm of Brookfield Asset Management, stated that it had acquired around 76,000 sites from ATC India, expanding its portfolio to a total of approximately 257,000 telecom sites. This places it ahead of Indus Towers, which had a portfolio of 225,910 towers as of June 2024.

The Competition Commission of India approved the deal in August, and the terms and conditions of the buyout were finalised yesterday (September 12). The enterprise value of the acquisition stood at INR181.5 billion.

ATC India, incorporated in 2004, reported a turnover of INR121.6 billion for the full year 2023-24, an increase from INR87.6 billion year-on-year.

This deal marked Brookfield’s third acquisition in the Indian telecoms sector. In 2022, the asset management company acquired 6,300 indoor sites and small cells, and in 2020, it acquired 175,000 towers from Reliance Industrial Investments.

Arpit Agrawal, Brookfield Managing Partner and Head of Infrastructure for India and the Middle East, said: “Our expertise, rooted in our history as an owner and operator of high-quality businesses, is exemplified by our acquisition of ATC India. It complements our existing business and further strengthens our footprint, creating the largest tower portfolio in the country and one of the largest platforms globally.”

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